WIT Press


Modelling Retail Bank Customers’ Needs With Bayesian Belief Networks

Price

Free (open access)

Paper DOI

10.2495/DATA030231

Volume

29

Pages

8

Published

2003

Size

378 kb

Author(s)

P. Lakatos, B. Egri & P. Aszalós

Abstract

Modelling retail bank customers' needs with Bayesian Belief Networks P. ~akatos',~, B. ~ ~ r i ' & P. ~szal6s' I DSS Consulting Ltd., Hungary 2 Department of Mathematical Economics and Econometrics, Budapest University of Economic Sciences, Hungary Abstract Retail bank customer relationships, like many systems observed in real life, cannot be modelled deterministically - they have multiple variables, interdependent through various channels of cause and effect and are subject to exogenous effects. The methods used with such data extract a model by uncovering stochastic relationships between variables. Bayesian Belief Networks accomplish this effectively because they are capable of integrating experts' knowledge, discovering causal relationships in the data and introducing hidden variables to represent exogenous effects. In this paper we present a method of building a customer relationship model using Bayesian Belief Networks. In addition, we emphasise the need to use concepts employed by compa

Keywords